DELRAY BEACH, Fla., Dec. 7, 2011 (GLOBE NEWSWIRE) -- PositiveID Corporation ("PositiveID" or "Company") (OTCBB: PSID), a developer of medical technologies and molecular diagnostic systems, announced today that its Board of Directors (the "Board") has appointed William J. Caragol its Chairman. Caragol has been CEO since August 2011, President since May 2007, and a member of the Board since November 2009.
Caragol said, "PositiveID has a number of significant opportunities ahead, including the commercialization of iglucose™, which received FDA clearance in mid-November, the continued development of our non-invasive diabetes management products, and high-value opportunities within our MicroFluidic Systems subsidiary, including a potential $3 billion BioWatch procurement. The Board and executive management team will continue to focus on these opportunities to grow this company, generate meaningful revenue and deliver stockholder value."
About PositiveID Corporation
PositiveID Corporation develops unique medical devices and molecular diagnostic systems, focused primarily on diabetes management, rapid medical testing and airborne bio-threat detection. Its wholly-owned subsidiary, MFS, is focused on the development of microfluidic systems for automated preparation of and performance of biological assays. For more information on PositiveID, please visit www.PositiveIDCorp.com.
The PositiveID Corporation logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7717
Statements about PositiveID's future expectations, including the likelihood that the Company has a number of significant opportunities ahead, including the commercialization of iglucose™, which received FDA clearance in mid-November, the continued development of its non-invasive diabetes management products, and high-value opportunities within its MicroFluidic Systems subsidiary, including a potential $3 billion BioWatch procurement; the likelihood that the Board and executive management team will continue to focus on these opportunities to grow the Company, generate meaningful revenue and deliver stockholder value; and all other statements in this press release other than historical facts are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and as that term is defined in the Private Litigation Reform Act of 1995. Such forward-looking statements involve risks and uncertainties and are subject to change at any time, and PositiveID's actual results could differ materially from expected results. These risks and uncertainties include PositiveID's ability to successfully commercialize its diabetes management products and medical technologies; the Company's ability to successfully take advantage of the BioWatch procurement; as well as certain other risks. Additional information about these and other factors that could affect the Company's business is set forth in the Company's various filings with the Securities and Exchange Commission, including those set forth in the Company's 10-K filed on March 25, 2011, and 10-Qs filed on May 13, 2011, August 15, 2011, and November 14, 2011, under the caption "Risk Factors." The Company undertakes no obligation to update or release any revisions to these forward-looking statements to reflect events or circumstances after the date of this statement or to reflect the occurrence of unanticipated events, except as required by law.